Africa Business in Brief | Issue 394 | 04 APR 2021

Africa Business in Brief | Issue 394 | 04 APR 2021

AfCFTA and UNDP announce new partnership to support largest trade area towards inclusive growth in Africa

The African Continental Free Trade Area (AfCFTA) Secretariat and the United Nations Development Programme (UNDP) have signed a strategic partnership to promote trade as a stimulus for Africa’s socio-economic recovery from the Coronavirus (COVID-19) crisis, and as a driver of sustainable development particularly for women and youth in Africa, in line with the Sustainable Development Goals (SDGs) and Agenda 2063 common vison for the continent. The agreement was sealed by the AfCFTA Secretary General, H.E. Mr Wamkele Mene, accompanied by Ambassador Fatima Mohammed Kyari, Permanent Observer of the African Union to the United Nations, and by the UN Assistant Secretary-General and Director of the UNDP Regional Bureau for Africa, Ms Ahunna Eziakonwa. The partnership will leverage UNDP’s presence in all African countries, working in close collaboration with other UN entities, and includes direct support to the AfCFTA Secretariat through a financial grant of US$3 million. This will enhance AfCFTA Secretariat advocacy among policy makers, business, civil society, academia, youth and other stakeholders.

Source: UNDP


Africa signs historic agreement with Johnson & Johnson for 400 million doses of COVID-19 vaccines

In a historic COVID-19 vaccine procurement agreement signed on 28 March 2021, all African Union member states, through the African Vaccine Acquisition Trust (AVAT) set up in November 2020 under the African Union chairmanship of H.E President Cyril Ramaphosa will have access to 220 million doses of the Johnson & Johnson single-shot COVID-19 vaccine, with the potential to order an additional 180 million doses. Most of the supplies will be produced at the giant pharmaceutical manufacturing plant in South Africa operated by Aspen Pharma. The vaccines will be made available to African countries through the African Medical Supplies Platform (AMSP), over a period of 18 months. The transaction was made possible through the USD2-billion facility approved by the African Export-Import Bank (Afreximbank), who also acted as financial and transaction advisers, guarantors, installment payment advisers and payment agents.

Source: Afreximbank


AfDB and BOAD sign MoU to co-finance preparation of regional infrastructure projects in PPP in Africa

The African Development Bank (AfDB) and the West African Development Bank (BOAD) signed a Memorandum of Understanding (MoU) setting out a strategic partnership framework for co-financing the preparation of regional infrastructure projects in a public-private partnership (PPP) in Africa. The two institutions were […]

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